Clinically meaningful intraocular pressure reduction and
improvement in depot retention demonstrated with OTX-TP at day 75

Timolol arm performed better than expected, performance may be
improved by placebo plug

No hyperemia-related adverse events observed in any of the
patients treated with OTX-TP

Conference call today at 5:00 pm Eastern Time

BEDFORD, Mass.--(BUSINESS WIRE)--Oct. 22, 2015--
Ocular Therapeutix, Inc. (NASDAQ:OCUL), a biopharmaceutical company
focused on the development and commercialization of innovative therapies
for diseases and conditions of the eye, today announced topline results
through 90 days of therapy from its Phase 2b clinical trial of OTX-TP
(sustained release travoprost) for the treatment of glaucoma and ocular
hypertension.

In this trial, the duration of effect as measured by the clinically
meaningful reduction of intraocular pressure (IOP) in the 4.5-5.7 mmHg
range was observed out to 90 days with the sustained release OTX-TP drug
product. This IOP lowering was comparable to levels seen in the
treatment group with the same drug release rate in the Phase 2a clinical
trial of OTX-TP. In the 2b trial, the patient group receiving timolol as
a comparator drug in the presence of a placebo depot, achieved IOP
lowering results that were higher than expected, based on results
reported in the peer-reviewed literature. However, as previously
reported, the trial was not powered to detect statistically significant
differences in IOP lowering between patient groups.

There were no hyperemia-related adverse events noted in any of the
patients treated with OTX-TP. Further, there have been no serious
adverse events observed to date in the Phase 2b trial, and adverse
events were generally similar in frequency across the treatment groups.
A complete analysis of all safety data is pending study completion.

“We are pleased with the performance of OTX-TP as seen in the topline
results of our Phase 2b clinical trial for the treatment of glaucoma,”
stated Amar Sawhney, Ph.D., President, Chief Executive Officer and
Chairman of Ocular Therapeutix. “The effect on IOP lowering observed
with OTX-TP was similar to what we observed in our Phase 2a study and
reached a clinically meaningful level. We also observed a significant
improvement in retention of the depot over prior studies through day 75,
achieving 88% retention in the combined arms in the study, a testament
to the successful modifications to the depot that have been made since
the Phase 2a trial. We have advanced our plug designs in parallel with
conducting the Phase 2b trial and plan to incorporate the findings from
the Phase 2b trial to further optimize our drug product with a higher
level of drug release and to achieve balance between retention and
patient experience with OTX-TP. Our goal is to advance this program to
Phase 3 trial expected in the second half of 2016 with a 75 day drug
delivery product after some minor modification of our product.”

Robert Noecker, MD, Ophthalmic Consultants of Connecticut, and Assistant
Clinical Professor, Yale University School of Medicine, stated,
“Compliance remains a major issue with current glaucoma eye drop
therapies. The OTX-TP product candidate addresses this issue directly,
and has the potential to remove the burden on the patient to acquire and
administer eye drops on a daily basis. In clinical trials to date,
OTX-TP has been shown to cause no hyperemia (redness) change from
baseline and its preservative-free formulation is benign to the ocular
surface. In the current clinical trial, timolol performed better than
reported in previous trials most likely due to the use of placebo plugs
to keep drug on the surface longer than typical and out of the systemic
circulation. OTX-TP is a product candidate that may play an important
role in the treatment of patients with glaucoma.”

The prospective, multicenter, randomized, double-masked, double dummy,
parallel-arm, active controlled study enrolled 73 patients at 11
clinical sites in the United States to assess the efficacy and safety of
OTX-TP as compared to timolol. The study was designed to inform the
further clinical development for OTX-TP and was not powered to show
statistical significance between study groups. Study efficacy measures
included differences in the mean intraocular pressure (IOP) change
between the treatment groups from baseline at multiple time points
throughout the study. Additional objectives included depot retention,
visualization, and replacement if required, duration for washout to
achieve stable baseline IOP, as well as a comparison of safety profile.
OTX-TP is administered by a physician as an intracanalicular depot
through the punctum, a natural opening in the eyelid, and is designed to
deliver travoprost to the ocular surface for up to 90 days.

The timolol group was observed to have intraocular pressure lowering of
6.4-7.6 (with an average of 7.0) mmHg compared with baseline, and as
noted, this was higher than expected, possibly due to enhanced residence
time of the drug on the ocular surface due to occlusion of the punctum
by the placebo vehicle depot. The average intraocular pressure lowering
seen in four published studies using timolol was 6.2 mmHg. At day 60,
which was the primary efficacy measure, the OTX-TP group had an IOP
lowering effect of 4.8 mmHg, compared with IOP lowering of 6.4 mmHg for
the timolol arm and at day 90, which was a secondary efficacy measure,
the OTX-TP group had an IOP lowering effect of 5.2 mmHg, compared with
an IOP lowering effect of 7.3 mmHg in the timolol arm.

The Phase 2b interim results are reported on all patients followed
through a 90-day duration. Complete results on safety and efficacy
through the end of the study are expected to be available in the first
quarter of 2016.

Depots were found to be retained in 91% at day 60 and 88% of patients at
day 75 when evaluating all patients completing the study through its
90-day duration. Retention was 48% at day 90, reflecting the
corresponding absorption and clearance of the depots with the duration
of drug release.

All patients were able to visualize the presence of the depots
throughout the trial and ask for replacement depots if and when
required. All but two OTX-TP treated patients were able to successfully
receive a replacement product when their depots were lost any time prior
to day 90.

Baseline (washout) evaluations for IOP were conducted at 4 weeks and 5
weeks following screening. It was seen that baseline IOP continued to
drop by 1.0 mmHg for the OTX-TP group and 0.61 mmHg for the timolol
group from week 4 to week 5, signaling the potential need for longer
washout duration in future studies.

The Company plans to investigate in non-significant risk studies whether
the presence of the high-retaining placebo depots can be enhancing the
effect of timolol, as this has been reported in the literature. The
Company also plans to discuss potential clinical study designs with FDA
to potentially minimize this effect and better reflect real world usage.

About Glaucoma and Ocular Hypertension

Glaucoma and ocular hypertension are chronic, sight-threatening diseases
in which elevated levels of intraocular pressure are associated with
damage to the optic nerve, which may result in irreversible vision loss.
Glaucoma is the second leading cause of blindness in the world. Ocular
hypertension is characterized by elevated levels of intraocular pressure
without any optic nerve damage. Patients with ocular hypertension are at
high risk of developing glaucoma. In the U.S. alone 2.7 million people
suffer from glaucoma. According to IMS, there were 33 million
prescriptions and sales of over $2.4 billion of drugs administered by
eye drops for the treatment of glaucoma in 2014.

About Sustained Release Travoprost

Sustained Release Travoprost (OTX-TP) is a preservative-free drug
product candidate that resides within the canaliculus and delivers the
prostaglandin analog travoprost to the ocular surface for up to 90 days.
The drug release is designed to deliver a continuous steady release dose
is sustained throughout the treatment period. A fluorescent
visualization aid is formulated within the product to enable both the
physician and the patient to monitor drug presence throughout the course
of therapy.

Conference Call & Webcast Information

Members of the Ocular Therapeutix management team will host a live
conference call and webcast today at 5:00 pm Eastern Time. The live
webcast can be accessed by visiting the investor section of the
Company’s website at investors.ocutx.com.
Please connect at least 15 minutes prior to the live webcast to ensure
adequate time for any software download that may be needed to access the
webcast. Alternatively, please call 844-464-3934 (U.S.) or 765-507-2620
(International) to listen to the conference call. The conference ID
number for the live call will be 66607929. An archive of the webcast
will be available until November 5, 2015 on the company’s website.

About Ocular Therapeutix, Inc.

Ocular Therapeutix, Inc. (NASDAQ: OCUL) is a biopharmaceutical company
focused on the development and commercialization of innovative therapies
for diseases and conditions of the eye using its proprietary hydrogel
platform technology. Ocular Therapeutix's lead product candidates are in
Phase 3 clinical development for post-surgical ocular inflammation and
pain and allergic conjunctivitis, and Phase 2 clinical development for
glaucoma and inflammatory dry eye disease. The Company is also
evaluating sustained-release injectable anti-VEGF drug depots for
back-of-the-eye diseases. Ocular Therapeutix's first product, ReSure®
Sealant, is FDA-approved to seal corneal incisions following cataract
surgery.

Forward Looking Statements

Any statements in this press release about future expectations, plans
and prospects for the Company, including statements about the
development of the Company’s product candidates, such as the ongoing
development and potential utility of OTX-TP for glaucoma and ocular
hypertension and the timing, design and conduct of potential Phase 3
clinical trials of OTX-TP, the Company’s plans for regulatory
submissions and the advancement of the Company's other product
candidates, the potential for the Company’s sustained release hydrogel
depot technology and other statements containing the words "anticipate,"
"believe," "estimate," "expect," "intend", "goal," "may", "might,"
"plan," "predict," "project," "target," "potential," "will," "would,"
"could," "should," "continue," and similar expressions, constitute
forward-looking statements within the meaning of The Private Securities
Litigation Reform Act of 1995. Actual results may differ materially from
those indicated by such forward-looking statements as a result of
various important factors. Such forward-looking statements involve
substantial risks and uncertainties that could cause the Company’s
clinical development programs, future results, performance or
achievements to differ significantly from those expressed or implied by
the forward-looking statements. Such risks and uncertainties include,
among others, those related to the timing and costs involved in
commercializing ReSure® Sealant, the initiation and conduct of clinical
trials, availability of data from clinical trials and expectations for
regulatory submissions and approvals, the Company’s scientific approach
and general development progress, the availability or commercial
potential of the Company’s product candidates, the sufficiency of cash
resources and need for additional financing or other actions and other
factors discussed in the “Risk Factors” section contained in the
Company’s quarterly and annual reports on file with the Securities and
Exchange Commission. In addition, the forward-looking statements
included in this press release represent the Company’s views as of the
date of this release. The Company anticipates that subsequent events and
developments will cause the Company’s views to change. However, while
the Company may elect to update these forward-looking statements at some
point in the future, the Company specifically disclaims any obligation
to do so. These forward-looking statements should not be relied upon as
representing the Company’s views as of any date subsequent to the date
of this release.

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